Prompt remittance definition
Prompt remittance means remittance of premium monies to carriers or insureds not later than the close of the fifth business day following receipt of the funds. The term "business day" does not include Saturdays, Sundays, or legal holidays.
Prompt remittance means remittance of premium monies to carriers or insureds not later than the close of the fifth business day following receipt of the funds.
Examples of Prompt remittance in a sentence
Prompt remittance of contributions as defined by the Internal Revenue Code from participants will be made to the third party administrator.
Prompt remittance (as defined by the Internal Revenue Code) of employee contributions shall be made to the third-party administrator.
Prompt remittance (as defined by the Internal Revenue Code) of employee contributions shall be made to the third- party administrator.
Prompt remittance of contributions as defined by the Internal Revenue Code from participants will be made to the third-party administrator.